The evolution and strategic positioning of private equity firms

Robert E. Hoskisson, Wei Shi, Xiwei Yi, Jing Jin

Research output: Contribution to journalArticle

18 Citations (Scopus)

Abstract

This paper explores the evolution and strategic positioning of private equity firms (general partners) themselves (versus previous research focused on buyout portfolio firm implications). Specifically, we provide a conceptual configuration of private equity firms along two dimensions: their financial structure emphasis (the strategic use of debt versus equity among private equity portfolio firms) and the diversified scope of their portfolio firms. Using these dimensions, we create a typology classifying private equity firms into short-term efficiency niche players, niche players with long-term equity positions, diversified players with focused groups of portfolio firms, and shortterm diversified efficiency-oriented players. We also use resource dependence theory and resource-based theory to form our model, and discuss theoretical and managerial implications as well as public policy suggestions.

Original languageEnglish (US)
Pages (from-to)22-38
Number of pages17
JournalAcademy of Management Perspectives
Volume27
Issue number1
DOIs
StatePublished - Feb 1 2013
Externally publishedYes

Fingerprint

Strategic positioning
Private equity
Niche
Equity
Resource dependence theory
Financial structure
Resource-based theory
Buy-out
Public policy
Debt

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Marketing

Cite this

The evolution and strategic positioning of private equity firms. / Hoskisson, Robert E.; Shi, Wei; Yi, Xiwei; Jin, Jing.

In: Academy of Management Perspectives, Vol. 27, No. 1, 01.02.2013, p. 22-38.

Research output: Contribution to journalArticle

Hoskisson, Robert E. ; Shi, Wei ; Yi, Xiwei ; Jin, Jing. / The evolution and strategic positioning of private equity firms. In: Academy of Management Perspectives. 2013 ; Vol. 27, No. 1. pp. 22-38.
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